Hello there all steemit people,i hope everyone having a good day
I am new in this steemit,i would like and try to give you some good news about crypto market.
I am not an expert but i am learning new things everyday which i would like to share in this community.
If i have done some mistakes in grammer and the my knowledge about the crypto market as i said already i am not an expert i am just learning myself from internet at home.
FIRST THING FIRST
Please be aware of the risks involved in trading.This was made for educational purposes only not for financial Investment Purposes.
For today i have learned this
BITCOIN BREAKOUT OR FAKEOUT
As you can see guys the price of bitcoin did manage to grow above 31st of may and now we are aware.Everytime
in the price of bitcoin does that,i mean closes above the previous monthly candle close level.the price of bitcoin
has shown some very nice move beacause if you look closly 31st jan candle stick,it closes around 33000.the next day
feb 1st candle close above right and shows us impulsive move as you can see the next day bitcoin price going up
35800 again 28th feb the monthly candle close around 45200 but the next candle as you can see started above it and
after that we did saw some nice impulsive move of bitcoin.
Coming to our senario,if you monitor 31st may candlestick it closes around 37300 and now since the price of bitcoin
is hovering above 38000,this is actually showing us that finding proper support above previous monthly cadle close level
could lead to some really nice impulsive move here for bitcoin.According to this monthy candle our next possible cadle frame
target may get price target from 28thfeb which is 45000 price area.
we get two senario in this conditions
1)Either price gonna break up in the direction or
2)price gonna get strong rejection
the price should stick around 39000 to 39500.It may be bullish pattern or may not be we are not sure.
Lets see how its gonna play.If it find support,it could lead us to 41600 price area which is very
good in this senerio and next target price area is 43800.This three price level are short term price target for bitcoin.
The price is going slowly upward which is good news.If price break the neck level which is 40000,it could hiting toward 48000.
Either in the both scnerio bulish or rejction its very intresting pattern we are headed.We should be careful in 40000 price level
because rejection may pull us back to 33000.All the indicator shows us upward bull market,lets hope and earn some targets.
At last i would like you people to share your knowledge ,what should i do to get better?
If this is helpful in anysort please do upvote it will give me energy to learn more and earn more.
THANK YOU ALL